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Hello Hello H ll Hello Hello Hello Hello East Midtown Study July 18, 2012

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Page 1: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

HelloHelloH llHelloHelloHelloHello

East Midtown Study

July 18, 2012

Page 2: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

IntroductionEast Midtown Study Area

uePa

rk A

venu

GCT

Page 2 - DCP East Midtown Study

Orthophoto Base Map Copyrighted by the New York City Department of Information

Technology and Telecommunications.All rights reserved.

Page 3: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

IntroductionEast Midtown – Office Core

• 80 million sf office space

• 250,000 jobs

• 14 Fortune 500 companies

• NYC financial core

• Unparalleled investment in infrastructure

Page 3 - DCP East Midtown Study

Page 4: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Area OverviewBest Business Address in the World

57th

Park Avenue

Madison Avenue

42nd

Page 4 - DCP East Midtown Study

Office Building

Page 5: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Area OverviewIconic Landmarks

57th

Villard HousesVillard Houses

42nd

St B th l ’ d SOCONY M bil

Page 5 - DCP East Midtown Study

St. Bartholomew’s and Waldorf Astoria

SOCONY Mobil Building

Page 6: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Area OverviewGrand Central Terminal

57th

Park Avenue

42nd

Page 6 - DCP East Midtown Study

Grand Central TerminalLandmark and Transportation Hub

Page 7: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Area OverviewTransportation Infrastructure

Terminal CityNew Grand Central Terminal

Image from Scientific American, December 7, 1912

Image from flickr user Arg768

Page 7 - DCP East Midtown Study

Page 8: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Area OverviewDifferent eras

Image from Municipal ArchivesImage from Municipal Archives

1950s/60s boom 1980s boom1920s boomImage from Municipal ArchivesImage from Municipal Archives

Page 8 - DCP East Midtown Study

Page 9: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

IntroductionPost-1982 Planning

- Challenges

2005 Hudson Yards 1982 Midtown Plan

Page 9 - DCP East Midtown Study

Page 10: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Area OverviewCurrent State and Recent Trends

Current Dynamics• Key strength is wide range of office

space – making for an integrated Xand dynamic market

• Continued strength in financial and legal industries, with more recent

Xtechnology and media growth

• Tenants continually moving based on lease length, economic conditions, or differing space needs

• Buildings under near-continuous renovation to maintain desirability

Page 10 - DCP East Midtown Study

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Long-Term Challenges

Page 11 - DCP East Midtown Study

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Long-term challengesBuilding stock aging

57th

• 80% of buildings are over 50 years old

• Average build year - 1940

• Older buildings have higher vacancy rates

• Many of the buildings do not comply with current zoning presenting an economic disincentive to replacement

• Over long term, older buildings are candidates for conversion to

ffnon-office uses42nd

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Long-term challengesBuilding stock aging

10’ to ceiling

Numerous interior columns

Constructed 1956Renovated 201018 floors - 8,800 sf avgA t $70 77Average rent - $70-77

Recent Renovation

Page 13 - DCP East Midtown Study

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Long-term challengesBuilding stock aging

14’ to ceiling

Constructed 200730 floors – 11,500 sf avgAverage rent - $90-135

Column-free space

New Construction

Page 14 - DCP East Midtown Study

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Long-term challengesBuilding stock aging

Recent office building conversions

Library Hotel 299 Madison

5 condo5 east 44th street

Andaz Hotel485 Fifth Avenue

Courtyard Marriott866 Third Avenue

Page 15 - DCP East Midtown Study

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Long-term challengesLimited new development

57th

510 M di510 Madison

300 Madison 510 Madison

• Only two new office buildings constructed in last decade

300 Madison42nd

Page 16 - DCP East Midtown Study

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Long-term challengesPedestrian Network

57th

Madison Lexington

Madison sidewalks – 13 feet

42nd

Page 17 - DCP East Midtown Study

Lexington sidewalks – 12-13 feet(narrower with subway grates)

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Long-term challengesPedestrian Network

57th

Vanderbilt

42ndVanderbilt Avenue

Page 18 - DCP East Midtown Study

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Long-term challengesPedestrian Network

57th

42nd

Page 19 - DCP East Midtown Study

42nd Street / Grand Central station

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Long-term challengesLimited success of current GC subdistrict zoning 57th

• Maximum 21 6 FAR through

383 Madison

• Maximum 21.6 FAR through special permit in core, 16.0 FAR in “Wings”

• ~1 35 million sf remains unused• ~1.35 million sf remains unused in subdistrict after 20 years

42nd

Page 20 - DCP East Midtown Study

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Long-term challengesCompetitor Cities - Takeaways

• East Midtown buildings are significantly older than competitor cities

• Competitor cities are focusing on providing new space in both historic and new office coresLondon

Image from flickr user Arg768

Page 21 - DCP East Midtown Study

TokyoImage from flickr user Twiga Swala

Page 22: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Long-term challengesSummary

Building stock aging • 80% over 50 years old• Office buildings have outdated structural g

features like low ceilings and interior columns

Limited new development• Only two major new office buildings in last• Only two major new office buildings in last

decade

Limited success of current Grand Central zoning

• +1 milllion sf remaining on GCT• Requires onerous public review process

Pedestrian Network Challenges • Above- and below-gradeAbove and below grade

Competitor Cities• Replacing outdated office space in existing

office core districts

Page 22 - DCP East Midtown Study

Page 23: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Long-term challengesConsequences

• Integrated and dynamic office market in East Midtown would begin to break down

• Needs of top Class A tenants would go unmet, look elsewhere for space

• More existing office buildings would become conversion opportunities (particularly older Class B, C buildings)

• Area would become less desirable as business district

• Pedestrian realm challenges would remain

Page 23 - DCP East Midtown Study

• Huge public investment in infrastructure would fail to generate full potential of jobs and tax revenues for City

Page 24: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

A Stronger, Better East Midtown

Page 24 - DCP East Midtown Study

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VisionA Stronger, Better East MidtownEast Midtown continues to be a strong and

dynamic commercial districtdynamic commercial district

Page 25 - DCP East Midtown Study

Page 26: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Most of East Midtown remains as is, with most buildings

i i i th i tremaining in their current uses

Page 26 - DCP East Midtown Study

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A handful of new i i ffi b ildiiconic office buildings add to the area’s cachet and market d i j idynamism, just as in previous eras

Image from flickr user safesurfer

Page 28: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

The area’s pedestrian network is improved, befitting its status

as a world-class businessas a world class business address

Page 28 - DCP East Midtown Study

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Policy Direction

Page 29 - DCP East Midtown Study

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Policy Direction

Outline• Goals

• Long-term Development FrameworkLong term Development Framework

• Site Requirements and Mechanisms

• Sub Area GuidelinesSub Area Guidelines• Grand Central area• Park Avenue• Other areas• Special PermitSpecial Permit

• District-wide Elements• DIB / Public improvements• Non-complying buildingsNon complying buildings• Third Avenue area• “Sunrise” provision

Page 30 - DCP East Midtown Study

Page 31: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Policy DirectionGoals

• Protect and strengthen East Midtown as one of the world’s premier business addresses and key job center for the City y j yand region

• Seed the area with new modern and sustainable office buildings to maintain its preeminence as a Class A office districtpreeminence as a Class A office district.

• Improve the area’s pedestrian and built environments to make East Midtown a better place to work and visit

• Complement ongoing office development in Hudson Yards and Lower Manhattan to facilitate the long-term expansion of the City’s overall stock of office spaceCity s overall stock of office space

Page 31 - DCP East Midtown Study

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Policy DirectionLong-term Development Framework

57th

Park

Fifth

Third

• Most development should be focused around Grand Central Terminal

• Some development should occur along• Some development should occur along Park Avenue

• More limited development should occur along northern Madison, Lexington avenues, and Third Avenue

49th

46th

42ndGCT

Page 32 - DCP East Midtown Study

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Policy DirectionLong-term Development Framework

57th

Park

Fifth

Third

OUT• Most development should be focused

around Grand Central Terminal

• Some development should occur along

OUT

OU

T

• Some development should occur along Park Avenue

• More limited development should occur along northern Madison, Lexington

OU

T

avenues, and Third Avenue

• Excluded from Proposal• Fifth Avenue• Northeastern corner

49th

OUT

OU

T

Northeastern corner• Residential areas east of Third Ave 46th

OUT

OU

T42nd

GCT

OUTU

T

Page 33 - DCP East Midtown Study

OU

Page 34: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Policy DirectionLong-term Development Framework

57th

Park

Fifth

Third

• Most development should be focused around Grand Central Terminal

• Some development should occur along• Some development should occur along Park Avenue

• More limited development should occur along northern Madison, Lexington

49thavenues, and Third Avenue

• Excluded from Proposal• Fifth Avenue• Northeastern corner

46th Northeastern corner

• Residential areas east of Third Ave

42ndGCT

Page 34 - DCP East Midtown Study

Page 35: Hello HllHello Hello East Midtown Study - NYIT Logo (New ...iris.nyit.edu/~maltwick/ESP/Module 1/rezoning.pdf · Hello Hello HllHello Hello Hello Hello East Midtown Study July 18,

Policy DirectionSite Requirements and Mechanisms

57th

Park

Fifth

Third

Special Midtown DistrictExisting as-of-right mechanisms• Plaza bonus

Existing special permit mechanisms• Subway improvement bonus• Landmark transfer

21.6+ FAR achievable through discretionary mechanisms

49th

For most sites, existing zoning framework will remain

46th

42nd

Page 35 - DCP East Midtown Study

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Policy DirectionSite Requirements and Mechanisms

New zoning mechanisms are applicable to sites appropriate for significant new commercial buildings

Qualifying Sites would require:• Full avenue frontage

• Minimum site size of 25,000 sf

• Commercial FAR only

42nd

Page 36 - DCP East Midtown Study

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Policy DirectionSite Requirements and Mechanisms

District Improvement Bonus Landmark transferpHigher maximum FAR permitted as-of-right through contribution to fund for area-wide

pedestrian network improvements

Higher maximum FAR permitted as-of-right around Grand Central through floor area

transfers from landmark buildings

Page 37 - DCP East Midtown Study

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Policy DirectionSub Area Guidelines

57th

Park

Fifth

Third

1) Grand Central Area

2) Park Avenue 23) Other Areas 3

3

1

49th

46th

42ndGCT

Page 38 - DCP East Midtown Study

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Policy DirectionSub Area Guidelines - Grand Central

57th

Park

Fifth

Third

49th

• Over long term, most new development should be focused around Grand Central Terminal

46th

42nd• Area has best transportation access,

largest concentration of aging office stock

Page 39 - DCP East Midtown Study

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Policy DirectionSub Area Guidelines - Grand Central

57th

Park

Fifth

Third

• Existing Grand Central subdistrict• Existing Grand Central subdistrictwould be expanded

Future boundary

(black)

49th

46th

42ndGCT

Page 40 - DCP East Midtown Study

Current boundary

(blue)39th

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Policy DirectionSub Area Guidelines - Grand Central

57th

Park

Fifth

Third

• Existing Grand Central subdistrict would• Existing Grand Central subdistrict would be expanded

• Grand Central Core area established

49th

GC Subdistrict

46th

GC Core

42ndGCT

Page 41 - DCP East Midtown Study

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Policy DirectionSub Area Guidelines - Grand Central

57th

Park

Fifth

Third

• Existing Grand Central subdistrict would• Existing Grand Central subdistrict would be expanded

• Grand Central Core area established

• Only sites with full avenue frontage and >25k permitted higher as-of-right FAR through District Improvement Bonus and landmark transfers

49th

GC Subdistrict21.6 FAR

(for qualifying sites)46th

GC Core24.0 FAR

(for qualifying sites)

(for qualifying sites)

42ndGCT

Page 42 - DCP East Midtown Study

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Policy DirectionSub Area Guidelines - Grand Central

21.6 FAR - Comparable Buildings 24.0 FAR –

Comparable Building

Image from flickr user NYMAN2010

383 Madison –~750’

1 Bryant Park~900’

200 West Street(Goldman Sachs bldg)

~750’

Page 43 ‐ DCP East Midtown Study

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Policy DirectionSub Area Guidelines - Grand Central

1046’

750’700’

810’

42nd44th46th48th 40th50th 42nd44th46th48th 40th50th

Page 44 ‐ DCP East Midtown Study

East elevation of Madison Avenue - Existing

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Policy DirectionSub Area Guidelines - Grand Central

1046’

750’700’

810’760’

42nd44th46th48th 40th50th 42nd44th46th48th 40th50th

Illustrative massing at 21.6 FAR

Page 45 ‐ DCP East Midtown Study

East elevation of Madison Avenue

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Policy DirectionSub Area Guidelines - Grand Central

1046’

750’810’

700’

870’

42nd44th46th48th 40th50th 42nd44th46th48th 40th50th

Illustrative massing at 24.0 FAR

Page 46 ‐ DCP East Midtown Study

East elevation of Madison Avenue

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Policy DirectionSub Area Guidelines - Grand Central

57th

Park

Fifth

Third

• Ratio of DIB and landmark floor areaRatio of DIB and landmark floor area guarantees pedestrian network improvements as development occurs

49th

GC Subdistrict21.6 FAR

46th

GC Core24.0 FAR

42ndGCT

Page 47 - DCP East Midtown Study

DIB DIB or landmark

Base

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Policy DirectionSub Area Guidelines – Park Avenue

57th

Park

Fifth

Third

49th

• Over long term, some development should occur along Park Avenue

• Area’s iconic address and overall width

46th

42nd

Area s iconic address and overall width makes it appropriate location

Page 48 - DCP East Midtown Study

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Policy DirectionSub Area Guidelines – Park Avenue

57th

Park

Fifth

Third

- Only sites with full avenue frontage and >25k permitted higher as-of-right FARs through District Improvement Bonus

21.6

(for qualifying

sites)

49th

46th

42ndGCT

Page 49 - DCP East Midtown Study

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Policy DirectionSub Area Guidelines – Park Avenue

575’

700’

56h54h52nd50th48th

Page 50 ‐ DCP East Midtown Study

West elevation of Park Avenue - Existing

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Policy DirectionSub Area Guidelines – Park Avenue

575’

700’590’

56h54h52nd50th48th

Illustrative massing at 21.6 FAR

Page 51 ‐ DCP East Midtown Study

West elevation of Park Avenue

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Policy DirectionSub Area Guidelines – Park Avenue

57th

Park

Fifth

Third

- Only sites with full avenue frontage and >25k permitted higher as-of-right FARs through District Improvement Bonus

21.6

(for qualifying

sites)

49th

46th

42ndGCT

Page 52 - DCP East Midtown Study

DIBBase

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Policy DirectionSub Area Guidelines – Other Areas

57th

Park

Fifth

Third

• Over long term, more limited development

49th

Over long term, more limited development should occur along northern Madison, Lexington avenues, and Third Avenue

• Areas contain most of East Midtown’s t ffi t ti

46th

42nd

more-recent office construction

Page 53 - DCP East Midtown Study

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57th

Park

Fifth

ThirdPolicy Direction

Sub Area Guidelines – Other Areas

- Only sites with full avenue frontage and- Only sites with full avenue frontage and >25k permitted higher as-of-right FARs through District Improvement Bonus (20%)

.4.4.4.4

18.0 18.0

14.

14.

14.

14.

49th(for

qualifying sites)

46th 18.0

14.4*

42ndGCT

Page 54 - DCP East Midtown Study

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57th

Park

Fifth

Third

- Only sites with full avenue frontage and

Policy DirectionOther Areas

- Only sites with full avenue frontage and >25k permitted higher as-of-right FARs through District Improvement Bonus (20%)

.4.4.4.4

18.0 18.0

14.

14.

14.

14.

49th(for

qualifying sites)

46th 18.0

14.4*

42ndGCT

Page 55 - DCP East Midtown Study

DIB

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57th

Park

Fifth

ThirdPolicy Direction

As-of-right Development Framework

• Intended to encourage limited and targeted as-of-right commercial development

Calibrated to enco rage de elopment in• Calibrated to encourage development in appropriate locations

• Improve landmark transfers within Grand Central and generate funding for area-

(for qualifying

sites)49th

g gwide pedestrian network improvements sites)

46th

42nd

Page 56 - DCP East Midtown Study

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Global Distinction

Page 57 - DCP East Midtown Study

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Policy DirectionSpecial Permit

L d Sh d T A bImage from flickr user Dave Catchpole Image from flickr user budapest1956

London Shard Torre AgbarBarcelona

Page 58 - DCP East Midtown Study

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Policy DirectionSpecial Permit

Chrysler Building Lever House Seagram Building

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Policy DirectionSpecial Permit

T ll t di b ildi t k

57th

Park

Fifth

Third

• To allow extraordinary buildings at key sites, new special permit (full ULURP) to permit greater FAR

• Proposals must exhibit significant p gcontribution to the skyline, result in superior relationship to other buildings in the skyline, result in a superior site plan and massing, and make a significant contribution to the pedestrian network

(for qualifying

Up to

24.0contribution to the pedestrian network

• Minimum site size – 40k around Grand Central, 25k along Park Avenue

49th

qualifying sites, via special permit)

• Required District Improvement Bonus contribution or Landmark transfer (around Grand Central)

46th

Up to 30.0

GCT42nd

Page 60 - DCP East Midtown Study

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Policy DirectionSpecial Permit

Illustrative massing from East River – 30 FAR

Page 61 ‐ DCP East Midtown Study

Illustrative massing from East River – 30 FAR

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Policy DirectionSpecial Permit

Illustrative massing along 42nd Street – 30 FAR

Page 62 ‐ DCP East Midtown Study

Illustrative massing along 42 Street – 30 FAR

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Policy DirectionSpecial Permit

Illustrative massing along Park Avenue – 24 FAR

Page 63 ‐ DCP East Midtown Study

Illustrative massing along Park Avenue – 24 FAR

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District-wide Elements

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Policy DirectionDIB/Public Improvements

• Allows for City-priority improvements as new development occurs

• Focused on improvements to pedestrian net ork both abo e and belo gradenetwork, both above- and below-grade

• Funding generated would be used for specific improvements

• Working with stakeholders to develop draft priority improvements

Page 65 - DCP East Midtown Study

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57th

Policy DirectionDIB/Public Improvements

53rd

Possible Improvements• New connections between Grand

42ndGCTCentral Terminal and subway station

• Reconfigured Mezzanine level

• Additional connections to Lexington

Page 66 - DCP East Midtown Study

• Additional connections to Lexington (4,5,6) and Flushing (7) line platforms from Mezzanine level

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57th

Policy DirectionDIB/Public Improvements

53rd

42ndGCT

Page 67 - DCP East Midtown Study

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Policy DirectionDIB/Public Improvements

Page 68 - DCP East Midtown Study

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Policy DirectionDIB/Public Improvements

Hudson YardsH dson Park and Bo le ard 2014

Images from HYDC and MVVA

West ChelseaHigh Line

Hudson Park and Boulevard - 2014

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Policy DirectionDIB/Public Improvements

57th

Park

Fifth

Third

49th

46th

42nd

Vanderbilt Avenue

Page 70 - DCP East Midtown Study

Avenue

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Policy DirectionDIB/Public Improvements

Mad

ison

47th• Vanderbilt offers opportunity to create a significant gateway in East Midtown, adjacent to Grand Central Terminal

Gi en iconic location sho ld be an

45th

46th• Given iconic location, should be an elegant and distinguished space

• Intent would be to create a partially-pedestrianized public space while still

44th

45thp p pallowing crosstown access and access to surrounding buildings and Grand Central Terminal

43rd

GCT

42nd

GCT

Page 71 - DCP East Midtown Study

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Policy DirectionDIB/Public Improvements

Mad

ison

47th• Vanderbilt offers opportunity to create a significant gateway in East Midtown, adjacent to Grand Central Terminal

Gi en iconic location sho ld be an

45th

46th• Given iconic location, should be an elegant and distinguished space

• Intent would be to create a partially-pedestrianized public space while still

44th

45thp p pallowing crosstown access and access to surrounding buildings and Grand Central Terminal

43rd

GCT

42nd

GCT

Page 72 - DCP East Midtown Study

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Policy DirectionNon-complying Buildings

• Outdated buildings with non-complying floor area present challenge as existing zoning offers disincentive to replacement

f f• Buildings that are part of sites with full avenue frontage and >25k size could maintain existing floor area through discounted DIB price

• Other buildings would be able to maintain floor area through discounted DIB, as long as site has avenue frontage and 20k site

Page 73 - DCP East Midtown Study

575 Madison Avenue17.0+ FAR

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Policy DirectionThird Avenue area Th

ird

Seco

nd

46th

• Predominantly commercial character of midblocks along 42nd and 45th streets between Second and Third avenues

S

1-9

44th

• Special Midtown District generally follows the boundary of Midtown’s commercial areas

• Proposal would incorporate portions of

C144thProposal would incorporate portions of

these midblocks into Midtown district

C5-3

42nd

Page 74 - DCP East Midtown Study

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Policy DirectionThird Avenue area Th

ird

Seco

nd

46th

(12.

0)

(12.

0) (10.0)(10.0)

1-9

44th(15.0)(10.0)(10.0)

(15.0)(10.0)

C144th

(10.0) (12.0)

C5-3

42nd

d nd

(10.0) (10.0)

(15.0)

Third

Seco

n

Page 75 - DCP East Midtown Study

Existing Zoning Proposed Zoning

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Policy DirectionMidtown

• Hudson Yards is the City’s commercial development priority in Midtown

• Subway extension completed in 2014 andSubway extension completed in 2014 and first office buildings are planned to start construction soon

Orthophoto Base Map Copyrighted by the New York City Department of Information

Technology and Telecommunications.All rights reserved.

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Policy Direction‘Sunrise’ Provision

• “Sunrise” provision in East MidtownSunrise provision in East Midtown

• Current thinking is that building permits pursuant to new zoning can be issued five years from today

All i f d l t i t t ith• Allows sequencing of development consistent with planning objectives in Midtown

• Creates certainty for developers in East Midtown

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Policy DirectionSummary

• Goals

• Long-term Development Framework

• Site Requirements and Mechanisms

• Area-specific Guidelines• Grand Central areaGrand Central area• Park Avenue• Other areas• Special Permit

• District-wide Elements• DIB/Public improvements• Non-complying buildings• Third Avenue areaThird Avenue area• “Sunrise” provision

Page 78 - DCP East Midtown Study

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Policy DirectionSchedule

Initial Findings/Policy Direction presentation – June 2012

Preliminary Proposal presentation – Today

EIS scoping - Early Fall

ULURP Certification – 1st quarter 2013

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HelloHelloH llHelloHelloHelloHello

East Midtown Study